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FOX News
Dec 22, 2012 10:00am PST
motorola for $49.99. >> and the fiscal cliff standoff taking a big toll on one of the key drivers of the economy, consumer confidence dropping to a five-month low. but at the same time,' same time, consumer spending was up a quarter of a percent last month according to the commerce department and we're seeing a big jump in personal income. so what does it mean and how do we compare it to the signals and what does it say about the health of our nation's economy. joining us carolyn castlebury, good to see you. what does it hean when we see that the consumer's confidence is dropping and eroding and yet, spending is going up? >> it means that many of us feel bad, but the way we handle that is to shop. we want to spend anyway and actually, this was the indicator that went up in november, .4%, the the holidays are here, people want to forget about a lot of their problems and the one thing that americans are slow to give up on is hope and sometimes when that confidence wanes denial kicks in and one translation might mean jobs. >> kelly: just had a funny picture, shop till you drop no matter what's going on. that
Dec 21, 2012 11:00pm EST
but somewhat troubled environment. now, let's think about this. suppose the fiscal cliff gets resolved quickly without wrecking the economy. i think washington is the only thing standing in the way of a worldwide surge in growth and profits. not just in stocks but also in real estate. if you take washington out of the equation -- my job would be so much fun. blackstone should zoom higher. first off, if the fiscal cliff does get resolved people will pull money out of bonds. they should pull them out of bonds any way because deal if small will be inflationary. they're more likely to invest in aggressive alternatives with higher assets under management. for those of that you don't know, the private equity where you buy companies using borrowed money and you fix them up and flip them a few years later by taking them public. over the past two years, blackstone brought eight private companies in its portfolio public and in the next 12 months, they plan on doing another eight. it goes without saying that if we're in a bull market next year, blackstone will be able to realize much higher price which is it brings companies that it ow
Dec 22, 2012 2:30am PST
economy. >> you talk about fiscal cliff. through so much of the election season we talk about uncertainty and people do not plan in the face of uncertainty. after that, once this is resolved in one way or another. what do you think small business owners will do, the ones that you speak with? >> i think coming in 2013, the big issues will be tax reform. even though we're addressing the fiscal cliff, there's a larger budget looming and tax reform will be a big component of that. what's it going to look like and i also think health reform. the health reform law is here to stay. 2013 is that drop dead date of when everything is supposed to be implemented so next year is going to be a critical year where we see everything plays out and what it means in terms of cost of coverage. >> okay. bill, so it was your survey or the nfib survey that showed that pessimism. we had you guys for a little while, but now you've gone back to where it was. what do you think will turn people's attitudes around, get them more optimistic again? >> well, i think we have to get consumers to be a little mo
Dec 21, 2012 10:00pm PST
we don't know how it will be resolved it makes it harder. there are three days the fiscal cliff can affect the economy, one is through tax increases and another is through spending cuts. and people get those. and the third is through financial markets. and that is one if they go off and it does seem there is not a resolution around the corner, that is one that will happen most quickly and be the most devastating as the financial markets will mediate the new expectations that washington may throw us into recession. and businesses that were looking for credit in order to expand won't be able to get it. and so hiring decisions that we're going to be made, we expect to be coming in 2013, those hires won't happen, layoffs will happen. so the expectations of economic act that is coming through markets and credits can do it for them. >> it is hard to see as we sit here today what happens next thursday to make this anymore urgent. because normally, ezra, as we know in these situations there is a certain amount of public pressure. there is a certain sensation that you get back from constituents. it is christmas, ch
Dec 21, 2012 6:30pm PST
on the major averages. can we really do that with all this fiscal cliff stuff hanging over us? yes, i think once we get passed washington-- i have my no shave december beard going like i did last year guys have noticed. >> that's to insurance we have a good economy and good market. we're below the street of 110 and a 15 multiple, we could see 1550 on the s & p. it could be bumpy, base on the political risk in wher washington, but we feel pretty good the economy is turning and if we get a pickup in housing and wages and employment, we think it's a doable number next year. >> susie: all right. you have five stocks that you're recommending for investors. let's see if we can whip through all of them. let's start with direct tv. that's at the top of your list. why do you like directtv? /çuy<'lél$gntkz'directtv? >> wells fargo is a great brand name. we think both housing and the consumer spending cycle will get better into next year. stock trades at nine times earnings. and, again, next year we think there will be a shift from growth to value. so we are in more of the warren buffet tall names. >> susie: you're also recommending berkshire hathaway, the baby b shares, up 18% this year. they've been stuck around the $90 level over the last couple of months
Dec 21, 2012 4:30pm PST
the election are watching the fiscal cliff with growing alarm. >> it's going to mean a lot of problems, the job situation will actually get worse because then companies can't borrow money and if you can't borrow money, then you're gonna have problems with hiring employees and stuff like that. >> reporter: the holidays are usually times that bring filies together and many would like to see that happen at the national level as well. >> so i think the tax issue and the job issue needs to be looked at together and it shouldn't be divided among rich or middle class, or lower class it shouldn't be any class, it should be america coming together and right now in our house that's a big cause of debate. >> reporter: but washington isn't a source of optimism these days. >> if they make a deal it certainly won't be a good one, they'll say this is something we've got to get done and i don't think it's going to be using any brain power to do it. >> reporr: aeadyhere is growing talk in washington of a so-called mini-deal. >> let's hope they do. the president was serious. he was friendly in the state
Dec 22, 2012 4:00am PST
economy from going over the fiscal cliff. before leaving, the president pushed congress to approve a stripped-down measure to keep taxes from rising but for all of the wealthiest americans. >>> and a former marine held in mexico for months is back home. jon hammar was arrested trying to cross into mexico with a shotgun that belonged to his great grandfather. >>> and twinkies could be back on store shelves. the company says it's close to selling its brand. >>> finally, a major milestone for the biggest viral video ever. psy's "gangnam style" has become the first video to reach, check this out, 1 billion views on youtube. in second place, i'm told, was a video by our friend, justin bieber. >> does the mayan end of the world prophecy didn't come true. but there are some signs. >> and by the way, my step kids corrected me. it's "gangnam style." >> what did i say? >> it's "gangnam style." >> all right, bianna. we'll talk later. >>> time for the weather and ginger zee at o'hare airport. good morning, ginger. >> good morning, ron. i know you lived here, too. it feels good to be home for a l
Dec 22, 2012 6:00pm EST
fiscal cliff. president obama is calling on congress to do just enough to change that. it's a change from his previous push for sweeping reforms. >> the american people re- elected president obama on election day. they also re-elected a republican majority here in the house. in doing so, they gave us all a mandate. it was not a mandate to raise taxes on families and small businesses. it was a mandate for us to work together to begin solving the massive debt that threatens our country's future. unfortunately, the president and senate democrats vowed to reject and vetoed all of our proposals while failing to offer responsible solutions of their own. >> the chance for any deal may now be up to the democratally controlled senate since the speaker's plan to allow taxes to be raised for millionaires have gone down. >>> the first lady and president will attend the funeral for senator daniel inouye. >>> massachusetts voters faced another race since john kerry is now the official nominee for secretary of state. the state will have to hold a third senate election since 2010, if he is confirmed. ste
Dec 21, 2012 7:00pm PST
through 2013. the fiscal cliff, mixed with lower unemployment and adding the mood with shoppers is leaving experts baffled by the direction of the economy. our consumer editor explains how the coming days could be critical. >>> consumer spending ins just released for november shows spending at a 3-year high. that was last month. last month, business investment in long-lasting machinery jumped more than expected. employment is up in all but five states. but, today's critical consumer confidence numbers are at a 5- month low. todays stock market closed down triple digits. >> people don't like uncertainty. there is a possibility of something happening. you don't want to hang your hat on what happens in washington. >> the prospect of huge tax increases and spending cuts is clearly raising the amount of uncertainty and the amount of risk that is in the economy. >> i think they will settle it. but i think the taxes are still going to go up. >> reporter: for the overall economy the shopping days are ahead of us including three post christmas weeks where people look for bargains. >> i am cautious how i spend now but i can imagine that, you know, spe
Dec 22, 2012 4:00am PST
throughout the day. >>> holiday shopping and one statistic that stands out this season. the fiscal cliff. a long fall if it happens. what could happen to our economy, and when. john meacham talks about some of the famous presidents of presidents on his wall in good times and bad. clusters of pustules, pimples. i had this shingle rash right next to my spine. the soreness was excruciating. it was impossible to even think about dancing. when you're dancing, your partner is holding you. so, his hand would have been right in the spot that i had the shingles. no tango. no rhumba. you can't be touched. for more of the inside story, visit [ male announcer ] jill and her mouth have lived a great life. but she has some dental issues she's not happy about. so i introduced jill to crest pro-health for life. selected for people over 50. pro-health for life is a toothpaste that defends against tender, inflamed gums, sensitivity and weak enamel. conditions people over 50 experience. crest pro-health for life. so jill can keep living the good life. crest. life opens up when you do. >>> three big money headlines, stocks slide, shopping slumps and no ch
FOX Business
Dec 22, 2012 4:00am EST
fiscal cliff. if you will, the boehner back flip on plan b. >> yes. end? lou: what do you think will happen from here? >> we tied to this cliff now. that is all anybody talks about. they are playing it to the 11th hour and 59th minute. the smart guys that i know tell me that it will probably not get done, but then it will be done in the first first second week maximum in january. the stock market showed you, just give you a little bit of a taste today about how the stock market feels aut it not getting done. lou: as i listen to the president todayand we are told that he will be taking off for hawaii. i mean, his take off was -- i'm sorry? there is the plane. and that, of course, pictur being worth 10,000 words. i was about to say, we will wave to the president, which is another obvious given to the fact that air force one is waiting to win its way westward to hawaii. this is not a president to is overwhelmed by his failure to lead on this issue. it doesn't like it is now his issue, does this? i mean, it is over. now harry reid, mr. electric, and mr. obama get to go at it. >> look. ad
Dec 22, 2012 7:00am PST
. >>> we are heading toward the fiscal cliff, and if the white house and republicans can't reach a deal, taxes will rise, and the economy will be in real jeopardy. earlier i talked with trish regan, anchor with bloomberg tv. she confirmed the unwanted prospects. >> reporter: taxes on every american will go up. we will also see the payroll tax cut end. so that's another thing that we'll wind up paying. don't forget, there's two million people now that are getting an extension on unemployment benefits. that will end, as well. a little less money in everybody's pockets. >> yeah. and stock markets, certainly we were watching the market yesterday. they've taken a dive. why is that? what is the connection, and do you see this continuing? >> reporter: the consumer basically accounts for about 2/3 of this overall economy. so consumer spending is critical to having a healthy economy. so if the consumer is being taxed more, doesn't have as much money to spend, the expectation is the consumer will pull back. you've also got something else going on, that's there's a lot of entertainment in the see suite. ceos say -- the c suite. ceos sa
Dec 22, 2012 7:00am EST
christian conservatives. we cannot apply those two situations such as the fiscal cliff. this is mark 12:41. many who were rich cast in much for the treasury. in this economy and give it to people who aren't producing that's not a good formula for making the economy grow. let's get back to a system that taxes people fairly but gives america an advantage in the rest of the world. let's face it, the united states isn't just competing with each other we're competing with other countries trying to catch up with us. and one of the points in my book is we've got to get serious in this nation about being a competitive nation to outcompete the other count tris to trying to catch up with us. >> jeff: steven moore is our guest. senior economics writer at the "wall street journal." we've got this tweet from right wing. >> i'm so impressed you're tweeting on c-span. >> we're big-time here at c-span. right wing says. and you're telling them they're going to pay 2500 a year more in taxes, they're already barely able to pay their bills. i don't see how they can do it. i don't see how a lot of middle class families are going to be able to make ends meet with this enormous tax
Dec 21, 2012 10:30pm EST
about it. 10 days to go until the fiscal cliff, and they laughed about it. i do not know anybody has looked at the calendar, but we are about of time here, folks. this is not funny. people's livelihoods are at stake. the u.s. economy is at stake. millions of families are counting on us to do something. tois the president's job find a solution that can pass the congress. he is the only one who can do it. this is not john boehner's problem to solve. he has done his part. he has bent over backwards. mr. president, how about rallying in your party around a solution? i have said many times before -- we cannot solve the problems we face unless or until the president of the united states either finds the will or develops the ability to lead. this is a moment that calls for presidential leadership. that is the way out of this. it is that simple. does anybody wonder why we keep going from crisis to crisis around here? anybody notice a pattern? this does not have to be a crisis. this is an opportunity. once again, the president ignored it. he held rallies and partisan speeches after he had been reelected. as i said yesterday, i think it is obvious that the president wants to go off the cliff. i know most of the american people
Search Results 0 to 21 of about 22 (some duplicates have been removed)